The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-01-14
Annual Address.

uC AOuAtA yCht Va AAO CAtoAObNO VI
the Memphis Merchants Exchange
has just closed, aud l herewith pre-
sent, in accordance with the annual
custom, my address as the presiding
officer. This duty enter upon with
pride and pleasure which is stimu-
lated by the gratifying retrospect pre-
scented by the events Of the year, so
far as they relate to this Exchange and
to the c,ty's commercial and general
prosperity.
My predecessors had occasion to
congratulate the Exchange uoon its
substantial organ ltion, ard |, in re-
turn, have pleasure in expressing the
same sentiments upon witnessing and
feeling that continued interest is
manifested by the membership, and
that a good In fuencs upon the busi-
ness and general prosperity of the
city is welded through the operations
OF this organization. As concerns my
administration as presiding fiji GER, l
take upon myself no credit for the sue
cess OF the Exchange, 9th; n than that
due for strict adherence to the gov
erning principles 30 wisely insuguy-
ated by my predecessors. The men,
bership has been kept we'll up to the
constitutional limit, aud there has
been no marked depreciation in the
value of membership certificates-a
fact bearing evidence OF the high esti-
mate entertained OF the usefulness OF
the Exchange as an auxiliary to the
commerce of the city. Reference to
the reports OF the secretary and treas
urer will show a satisfactory financial
condition. The Exchange owes no
debts, and there is an increase in the
surplus fund, instead OF the decrease
which was Anticipated at the begin
ming OF the year under review, wnen
the dues were reduced from $50 to $50.
This is worthy of mention, and is all
the moe gratifying when it is remem-
bered that the facilities for obtaining
information regarding the course of
the leading markets have been large
ly increased, and that many con-
veniences needed for the successful
operation OF the Exchange have been
added in order to meet the demands
of our growing city. 1t is not ne ces-
sary here TO go into details, which are
given in full in the appended reports.
/ shall content myself by saving that
the years history contains, for Mem.
phis, many bright pages, on which are
written the records of prosperity
which would appear fabulous, even to
the most sanguine among US, had we
not witnessed the occurrence of the
o-orka khaYa cot Jnwn AmnnO tho
most important is the record OF in
creased railway facilities, with
guaranteed promise of still further
increase in the near future, bringing
within our reach large additions
OF commercial territory in the North.
west, Southwest. South, Southeast and
East. From all directions eyes ara
looking toward Memphis as the great
depot OF supplies and the great dis.
tributing point for products. 1t would
be encroaching upon ground properly
belonging to my successor were TO
dilate upon the hopes born OF the new
railway enterprises now under CON-
temp alton, but their realization, in
measure at least, is 70 well assured
that / may be psrdoned for alluding
to them, especially in view OF the fact
that the influence OF these new enter
prices will coon be felt, counteracting
certain other Influences which have
recently affected come departments OF
our trade.
cannot leave this subject without
rererriog, also, to the projected bridge
which will span the Mississippi az this
point, bringing the Atlantic and the
Pacific slopes into unbroken railway
connection, and making Memphis the
great commercial center port of the
American continent. The building of
the bridge is assured beyond the
shadow OF doubt, and it's completion
is matter of only few years. This
Exchange has been an able advocate
OF this great enterprise. 1t has Ia.
bored uatiringly during the past year
In order that the matter might be
pacsd in its proper light before Con-
gress. 30 that favorable legislation
could be secured, and the franchise
finally granted to parties who, it is be-
lieved, are ready and able to complete
the work.
Our river transportation has under
gone but few changes during the past
year. The great Mississippi, with it's
rich tributaries, continues to exercise
an important function in the conduct
OF the city's commerce, and viii its
Importance is not relatively 30 great as
formerly, it still possesses an influence
for good that should not be treated as
a matter of small consequence.
The business prospects OF Memphis
were never brighter than at the close
of lhs present Exchange year. Album
dant returns have rewarded every ef-
fort made in the past, giving to our
people feeling Of encouragement and
OF confidence wbic. will not fail to
stimua Q them to renewed efforts in
the ork OF extending the radius OF
our commercial operations. Last
years great increase IN cotton receipts
is followed by a repetition, with large
interest, during the current season -
result traceable 10 a great measure to
the wisdom and foresight of those en-
gagged in the handling OF this impor-
tant staple in Memphis, this city now
possessing facilities unknown in other
and rival markets. All other de-
partments of commerce show q
gratifying increase, with the sin
gle exception OF the grain trade.
the growth OF which was interfered
with, during the past season, by
system of pooling and Of freightsge dis
elimination on the part OF railroads in
favor of markets in tedious rivalry
with Memphis in the struggle to OBJ
tain the trade OF the South and South
east. The completion Of new lines o
railways, now in course of construc
ton, will effectuslly thwart any fur
Their Efforts in that direction on thu
part OF competitors, aud will place u
on a substantial basis IS grain cente
and distributing point.
Our manufacturing interests hsv
been attended with a very satisfaction,
measure Of success. Many OF ou
manufacturing institutions have beel
compelled to enlarge their capaclt
durtnO tho nnufaa nj tho yaar OF 4